Resident Qualification Requirements

last updated: 3/25/2025

By submitting an application, all applicants authorize Sylvan Homes to verify employment status (income), background, credit, and rental history from reporting agencies.
Application fees are non-refundable.
Sylvan Homes strongly encourages applicants to tour the home before applying.
- If an applicant submits an application before touring the home and later decides not to proceed, the application fee will not be refunded.
Submission of an application does not guarantee approval or constitute a lease offer.
- All homes are leased on a first-approved basis in compliance with fair housing laws.
Sylvan Homes’ minimum lease term is 12 months.
Deposits and holding fees are non-refundable, except in cases where:
- Sylvan Homes cannot provide possession of the home within the agreed lease terms.
- Security deposits are subject to deductions for damages upon move-out, per applicable laws.

The holding fee is due in full at lease signing and is equal to 1x-1.5x the monthly rent.
Approved applications remain valid for 30 days and may be transferred to another available Sylvan Home if the original property is no longer available.

Residents must obtain sufficient liability insurance.
Acceptable options include our Damage Liability Waiver program ($17.00 per month) or securing third-party liability insurance.
- Residents are auto-enrolled in the Damage Liability Waiver program at the start of the lease.
- This coverage does not extend to pets or personal property, which may require a third party renters’ insurance or other similar insurance policy.

The desired move-in date must be at least 5 days but no more than 14 days from the date of application approval.
Requests for move-ins in less than 5 days are subject to home availability.

Maximum occupancy: 2 persons per bedroom, plus one additional occupant per home.
Local and state laws may affect occupancy limits.

All occupants 18 years or older must complete an application and meet screening requirements.

All applicants will have their credit screened through a scoring model that determines the VantageScore for each individual applicant.
The VantageScore model consists of information in the applicant’s consumer credit report, applicable rental history, and other relevant data.
Applicants with a VantageScore below Sylvan Homes’ threshold may be required to provide additional security deposit or a qualified co-signer.
A higher VantageScore may improve the likelihood of application approval and may qualify the applicant for standard security deposit terms.
Approved applications: Require a 1-month’s rent security deposit.
Conditionally approved applications: May require 1.5x month’s rent security deposit.
Guarantor option: Available if the applicant does not meet rental score requirements. Guarantor must:
- Have a FICO score of 620+
- Show a gross monthly income 4x the monthly rent
- Pay a 1.5x month rent security deposit

Applicants must earn at least 3x the monthly rent in gross income.
Required proof of income:
- Pay stubs: weekly: last 4; bi-weekly/monthly: last 2
- Bank statements: 60-90 days, depending on income source
- Housing Choice Voucher
  - Must submit a current, unexpired voucher matching the unit size and rent.
  - Voucher must be valid as of the application decision date.
  - Applicants must demonstrate a monthly adjusted income of at least 3x their portion of the rent as determined by the voucher.
    - This requirement applies only to the resident’s portion of the monthly rent, not the full monthly rent amount.
  - Sylvan Homes is compliant with the Housing Choice Voucher Program Section 8. For information on the program, please visit: Housing Choice Vouchers Fact Sheet
- Alternative income documentation: Retirement benefits, SSA/SSI, Disability, GI benefits, Alimony, Child Support, Tax returns.
- Self-Employed:
  - Must provide proof of business ownership: Tax return, Business license, Articles of Incorporation, etc.
  - Must submit 60 days of itemized business/personal bank statements.
- Savings/Retirement-Based:
  - Must show a minimum average ending balance of 3x the total rent for the full lease term (e.g., $1,200/month rent requires $43,200 in savings).

Rental History:
- Outstanding rental balances of $500+
- Eviction judgments within 5 years
- Eviction filings within the last 12 months
Bankruptcy:
- Open bankruptcies
Criminal History:
- Financial crimes (fraud, identity theft)
- Crimes against minors
- Violent crimes (homicide, kidnapping, etc.)
- Registered sex offenders (Megan’s Law)
- Other misdemeanors/felonies evaluated case-by-case

Determined based on rental score.
Payment methods: Sylvan Homes portal, bank account, credit/debit card, or approved voucher certificate.
All deposits and other prepayments must clear at least 72 hours prior to move-in.
The holding fee converts to a security deposit at lease start.

Maximum of 2 pets per household: dogs, cats, small caged pets, fish
Fees for dogs and cats:
- $250 non-refundable fee per pet
- $35 monthly pet rent per pet
Restricted breeds:
- American Terrier (Pit Bull), Bull Mastiff, Chow, Doberman, Presa Canario, Rottweiler, Wolf, and Wolf hybrid
- Mixed breeds including any of the above.
Pet weight/size restrictions may apply per home.
Some dogs may require a veterinarian letter confirming non-aggressive behavior.
Photos of all pets required.
Dog owners must provide proof of separate insurance providing dog bite liability coverage.
- This is not covered by the Damage Liability Waiver Program.

Sylvan Homes proudly complies with the ADA and Fair Housing Act.
- For more information, please visit HUD’s website: Assistance Animals
Service animals & ESAs do not incur pet fees, deposits, or additional insurance requirements.
Documentation required: ESA or service animal letter from a licensed medical provider dated within the last 6 months.